Bitcoin Trend Series / EP. 757 / 10th Jan. 2019

Recapitulation

• Bitcoin price rallied strongly to breach 4K and is still confined within tight track, keeps its stability above 3.920K , supported by EMA50 & Stochastic, so the short term trend still bulish, while the stabilty above 3.920K most likely will push the price to test 4.424K.

Market Factors

• Some of the most prominent investors continue to back cryptocurrency and the blockchain technology. Hong Kong billionaire Li Ka-shing has invested in the latest funding round of Intercontinental Exchange’s (ICE) crypto trading platform Bakkt through his venture capital firm Horizon Ventures.

Technical

• The bullish trend is suggested unless breaking 3.920K and holding below it.

• Bitcoin breaking above 4k is certainly a positive development for the cryptocurrency’s price action, it must maintain above 3.920K to keep the bullish trend.

Sentiment

The short term trend is Bullish

Support : 3800.000 level.
Resistance1 :4400.000 level.

Expected trading for today:
is between 3800.00 and 4400.00.

Expected trend for today :
Bullish.

YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.